My apologies for the rant here - it's not directed specifically at you, but toward a general attitude I see on HN and in the tech community.
I was more commenting on your phrase "if half of that 1 MLOC is still relevant to new ways of building systems (and given that SQL databases are a 70s tech, I doubt it's that much)".
There has been a TON of academic and industrial research on SQL databases since they were invented in the 70s. Calling them 70s tech is akin to calling LISP 50s tech. The basic ingredients haven't changed much (sets in SQL and lists in LISP), but the techniques on top have evolved by leaps and bounds.
To your point here - there are plenty of companies that have way more data in their databases than RAM available. The early users of Hadoop, etc. were primarily constrained by disk I/O on one machine, rather than constrained by RAM or CPU on one machine. It is certainly convenient that a distributed architecture can solve both sets of problems if the problem space lends itself to distributed computation.
I'm not a huge defender of SQL - I think it has some serious problems - one fundamental problem is lack of strong support for ordered data, and it can be a huge pain to distribute. I agree that having some options with distributed K/V stores is really nice, but you have to admit that much of it hasn't yet been proven in the field.
I, for one, DO think that the world needs something like an english-like language so that "managers" can write their own queries. Honestly, the roles of programmer and data analyst are often wholly different. I think it's a huge kludge that the only people capable of manipulating massive datasets are people with CS degrees or the equivalent. Programmers suck at statistics, and while they're generally smart folks, they often don't have the business/domain expertise to ask the right questions of their data. Software is about enabling people to solve problems faster - why should we be only allowing people with the right kind of academic background to solve a whole class of problems.
Finally, saying that you doubt SQL is relevant to building modern systems is borderline irresponsible. Experimentation with new tools is good - but you have to also keep in mind that people were smart way back in the 70s, too, and that their work may be perfectly relevant to the problems you're trying to solve today.